Real Estate Law in Erie, PA | Carney & Good

The licensed attorneys at the law offices of Carney and Good handle a wide variety of real estate clients. Whether you're a small business owner or major financial institution, the experienced and knowledgable attorneys of Carney and Good can help you with any real estate matter. Real estate transactions are one of the biggest financial decisions to be made in anyone's life.

Our real estate legal services include:

Leasing

Commercial acquisitions

Construction

Residential development & transactions

Planned communities

Taxation

Mortgage financing

Title examination

Real estate law encompasses not only the buildings and structures involved but also land, trees, minerals, interests, benefits, and rights that are legally considered attached to the property. These rights can include air above the land, the ground beneath it, and the rights to live on a property for a specific timeframe.

Is a lawyer needed when purchasing real estate?

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Real estate legal matters can be deceiving. In the state of Pennsylvania, there is no requirement of needing a lawyer to purchase real estate although it would be very wise to work with one in doing so. By working with an attorney through the process of purchasing real estate, you can ensure stability and security behind your decisions. An attorney can review the chain of title for your property to be sure that it's not subject to any liens, mortgages, judgments, or other defects that you cause problems as the future owner.

Is it necessary to purchase a home warranty?

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Most times, home warranties are agreed upon and often included in the real estate transactions in order to cover defects and other conditions in your new home. Be sure to review the warranty details with an attorney in order to make the best decision.

What's the difference between a short sale and a foreclosure?

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If a borrower has defaulted under a loan agreement, lending institutions are capable of taking the legal action of foreclosure which involves the filing of a lawsuit. A short sale also involves people who have ownership of property with a mortgage loan and are either in default or at risk of default. In short sales, the bank agrees to allow you to sell the property for less than the amount due on the mortgage where the bank would acquire all of the proceeds from the sale.

Are a mortgage and a deed of trust the same thing?

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A mortgage is a document that provides real estate property as security for the payment of a debt or other obligation. Even though a deed of trust is used for the same purpose and functions the same as a mortgage, there are a multiple differences between the two. A deed of trust is carried out by the property owner and debtor, to an indifferent third party classified as a trustee, who holds the ownership of the property in trust for the creditor.

Is there anything I should do before purchasing a property or land?

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One thing that's important to do before purchasing property is conduct a search of the title to ensure that the property is free and clear of any claims or liens. A certified real estate attorney from Carney and Good can do this for you and ensure that it’s safe to purchase the property or land you’re seeking to acquire.